Hello steemit community!
I hope you all are doing well.I read the lecture by @sapwood and found it quiet informative and intresting. Lets start the homework to show my understanding of the topic.

Q1) As most of the STEEM tokens will be minted in the next 10 years or so(on account of inflation), how important it is for you to build your SP in the next 10 years and build significant influence power in the form of SP? How difficult will it be to earn STEEM rewards after 2031? From 2021 to 2031 how many STEEM tokens are going to be minted(approx)? In which year the inflation and Block reward is likely to saturate(tentatively)?

I will be explaining it in three parts.

i) It is clear that with the each passing year more steems will be minted and earnig of steem propotional to reward earn back from reward pool would be difficult.The one with the more SP will have the more steem power to give away the rewards to the people of this platform.The virtual supply of steem is growing day by day due to the decrease in inflation.but it will not happen quickly it will take time and upto 2031 it will be little bit easy to get as much as SP as possible.after 2031 steem tokens minted per will be reduced.

Source

ii) The virtual supply in 2021 = 391,804,970.0 STEEM.
The virtual supply in 2031 = 685,011,397.3 STEEM.
Difference= 685,011,397.4-391,804,970.0
= 293,206,427.3 steem tokens
= approximately 293 million steem tokens will be minted in a time period of 2021 to 2031.

iii)

Source
From the above chart provided it can be seen that the the inflation rate at around 0.95 and block reward around 0.708 will get saturate in the year 2037.

Q2) Who is your recovery account in Steem, how do you check it(Hint- Steemscan), include screenshot(s)? In the case of any unforeseen event like hacking what information do you provide to the recovery account(or the trusted account) to initiate the recovery process?

i)Inorder to check my steem recovery account I went to steemd.com and in the search bar at top I wrote my username and got my account details and my recovery account is steem.here is screenshot attached

ii) The good thing with steem it is that if anything goes wrong,if your account's security got compromised you can recover it through your recovery account.you must have to provide your recovery account and your master key and it will take 30 days to recover.

Q3) How do you send an encrypted message(private message) to another peer in Steem Blockchain(include screenshot/process)? Which key is required to send a private message and which key is required to decrypt it? (Example/Screenshot)? Either send an encrypted memo-tag to exchange and send a private message to another user?

i) In order to send encrypted message you have to go to wallet first and if not logged in then first login with master key then click on the arrow with the steem you will see like this

then click on the transfer you will see next tab

Fill in the information the account where you want to transfer like i typed xyz and amount and memo.and add # before the memo.thenclick next you will see the final tab and press ok your transaction will be successful.

ii)The which is required to send an encrypted message on steem is master/memo key.and the key which is required to decrypt is alse memo key.

That is all from my side.I hope my points are justified.

Special mention

@steemcurator01
@steemcurator02
@steemitblog